Personal Umbrella Insurance

Lawsuits can arise from unexpected incidents, so protecting your assets is more crucial than ever. Personal umbrella insurance can be a vital safeguard, providing an extra layer of liability coverage beyond the limits of your standard home, auto or other insurance policies. This type of insurance can be the difference between financial stability and economic hardship when faced with significant claims or lawsuits.

Who Needs Personal Umbrella Insurance?

While personal umbrella insurance is beneficial for everyone, specific individuals may find it particularly essential:

• Those with considerable assets such as a home, investments or savings
• Individuals engaging in activities that increase liability risks, such as hosting large gatherings
• Owners of rental properties
• Families with teenage drivers

What Does It Cover?

Personal umbrella insurance extends your liability coverage, kicking in when the limits of your underlying policies (like home or auto insurance) are exhausted. It may cover various scenarios, including the following:

• Costs associated with injuries to others, such as medical bills and legal fees, if you’re found liable

• Expenses for damage to someone else’s property caused by you or a covered member of your household

• Slander, libel, false arrest and other personal liability issues

• Legal fees incurred in defending yourself in a lawsuit, even if you’re not found liable.
  

How Much Does It Cost?

One of the most appealing aspects of personal umbrella insurance is its affordability. Premiums are reasonable, considering the substantial coverage it can provide. Rates will vary based on factors such as your location, the number of properties or vehicles you own and your overall risk profile.

Learn More

Agents from PAC Insurance Agency are happy to discuss how a personal umbrella policy can help protect your financial future. Contact us today for more information.